this post was submitted on 25 Oct 2023
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This is the best summary I could come up with:
"If the jury does not believe him, it's a guaranteed conviction," Jacob Frenkel, a former federal prosecutor who has been following the trial told the BBC earlier this month.
Many analysts following this case, however, had expected the former entrepreneur to take the stand to try to offer his own version of events and undermine the story presented by prosecutors.
They have tied Mr Bankman-Fried to decisions to take money deposited at FTX and use it to repay lenders at his crypto trading firm, Alameda Research.
The former entrepreneur, who has been willing to speak publicly in the past, seems to have little to lose by testifying given the strength of the prosecutors' case so far, said Carl Tobias, a law professor at the University of Richmond.
The founder of blood-testing start-up Theranos, who argued that she did not intend to defraud investors, was ultimately convicted of four out of 11 counts and sentenced to more than 11 years in prison.
Tom Barrack, a former private equity executive and fundraiser for former President Donald Trump, and Lebanese businessman Jean Boustani, both took to the stand in separate, unrelated criminal cases and were acquitted.
The original article contains 428 words, the summary contains 193 words. Saved 55%. I'm a bot and I'm open source!